Electrolux sets eyes on sustainability with new green bond framework

March 15 (Renewables Now) - Swedish home appliance manufacturer Electrolux plans to embark on a green bond programme that will enable it to invest in climate-related projects, including renewables.

The goal of the specific projects will be to lower the environmental impacts of the company's products and operations, it announced on Tuesday without providing specific details about the amount it will seek to raise.

Through the green bond framework, Electrolux will get financing for environmental schemes, which may include investment in initiatives that will lift the use of renewables generated power at its production sites, such as the installation of solar photovoltaic (PV) systems. Other investments may be focused on research and development (R&D) aimed at improving the energy or water efficiency of Electrolux appliances and the elimination of refrigerants with high greenhouse warming potential, the company said.

Last year, the Swedish group set science-based climate targets, aiming to lower the greenhouse gas emissions from its operations by 80% and emissions from its products by 25% by 2025.

"We're very pleased to complement our debt structure with loans that offer investors transparency around which projects they are funding as well as the environmental impact," said chief financial officer Therese Friberg, adding that the company hopes the framework will be "of particular interest to the market."

Veselina Petrova is one of SeeNews Renewables most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.